A Study on Corporate Governance Disclosures in Selected Housing Finance Companies in India (original) (raw)
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Compliance of Corporate Governance Disclosure: Evidence from Indian Financing Companies
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Corporate Governance Practices In Selected Indian Financial Institutions
European Journal of Business and Economics, 2012
It has been realized that Corporate Governance is vital for better management of any organization. Financial reporting and disclosure of any information are the key factors of corporate governance. Financial Institutions are no exceptions and there has been increasing demand for transparency in functioning of these Institutions in view of several scams.In this paper a modest effort is made to discuss the reporting pattern of India’s twelve financial institutions namely SBI, IDBI, SIDBI, IFCI, NABARD, PNB, UBI, BOB, BOI, KMB, NHB and HDFC. Top Six commercial banks namely (SBI, BOB, PNB, KMB UBI & BOI), six developments banks viz. SIDBI, IFCI, HFDC, IDBI, NHB, and NABARD are selected under study .The rationale for selection of these institutes is that being incorporated organizations, they should have same Corporate Governance standards. In view of transparency in functioning, the role of different Committees has a vital role to play. Six parameters have been chosen for comparison of...
Corporate Governance Disclosure for Complex Ownership Structure in India
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The transition of a national economy to global economy affected the corporate operation in a varied manner. The dichotomous models of corporate governance call for clarity in corporate objectives, strategies and responsibilities of the modern corporation. The dichotomous approaches towards corporate disclosure are influenced by ownership models, that is, concentrated (e.g., Germany and Japan) and dispersed (e.g., the United States [USA] and the United Kingdom [UK]). The dispersed ownership model implicates arm’s length relationships between shareholders and managers, whereas opposite trend demonstrates concentrated ownership. It implicates heavy reliance on large shareholders for bankrolling the firm. Post-reform market in India developed complex ownership structure which represents both concentrated and disperse trends. Consequently, learning curve for corporate governance disclosure in this type of ownership structure is yet to be consolidated. The present research article draws u...
An empirical examination of the impact of corporate governance disclosure on financial performance
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The Indian corporate governance relationships have evolved over time as a result of both formal and informal stakeholder interactions, with changes to Clause 49 triggering a further evolutionary move in Indian corporate governance towards global benchmarks. This study seeks to gain insights into how the regulatory changes impacted corporate governance (CG) practices in India by measuring their effect on performance. We construct a "CG Compliance Index" using three important governance mechanisms for the year 2008. The analysis reveals that majority companies have complied by the regulations depicted by high CG compliance score and have a significant positive relationship between CG Compliance Index and the market measure of financial performance of companies.
Corporate Governance and Disclosure Practices: A Study of SENSEX (Index) Companies
papers.ssrn.com
Securities Exchange Board of Indian made revised Clause 49 of listing agreement mandatory for all the listed companies India from first January 2006, to protect the interest of various stake holders in the company. Clause 49 mandates that all listed companies have to disclose in its annual report a detail report on corporate governance disclosure practices they have followed. This study evaluates the corporate governance and disclosure practices followed by 30 SENSEX companies by examining the annual reports for financial year ended 31 st march 2009. The major thrust of this study is on Composition of Board of Directors, Audit committee and shareholders Grievance committee. From this study it is observed that that corporate governance and disclosure practices followed by SENSEX companies are very good with exception just one or two items.